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Monday, March 19, 2018

A sailboat on the East River hit the Roosevelt Island Bridge this evening about 8 PM.

So my @nycferry home had to turn around because of the sailboat that wedged itself under the Roosevelt Island Bridge. Good luck to all the first responders figuring this one out... pic.twitter.com/iFOiF5JZpP

Gallery RIVAA's Tad Sudol welcomed guests to the reception and noted recent problems with water leaks and heating system that forced the Gallery to close during this past winter. Mr Sudol thanked Rivercross Management, RIOC, Hudson Related and the community for their help in re-opening Gallery RIVAA.

Mr Sudol invited the community to look around at the work of over 30 artists on display

and thanked everyone for their continued support keeping the Gallery open. Mr Sudol noted a big upcoming task to come in installing a heating/air conditioning system for the space.

RIOC approved Gallery RIVAA spending previously allocated Public Purpose Funds to fix their heating and air conditioning system although the funds allocated are not sufficient to complete the necessary work.

Gallery RIVAA welcomes new artists to exhibit. I spoke with first time Gallery RIVAA artist Thomas Heyer who recently moved to Roosevelt Island and loves living here.

The work of Christopher Amellio, who grew up on Roosevelt Island, was showcased at the Gallery RIVAA Vernissage XV11 exhibit. Take a look at Mr. Amellio's self portrait with his dog.

Thursday, March 15, 2018

... farms rooftops, builds green spaces, and promotes sustainable living and local ecology through food, education, and events. We believe that social enterprise is a powerful driver of positive change, and that businesses should be a nourishing part of their community.

"The Tata Innovation Center is the physical embodiment of what Cornell Tech is all about” says @cornell_tech’s Dean Dan Huttenlocher. The Tata Innovation Center will bring different industries under one roof, and will spark new ideas that will create a better digital future. pic.twitter.com/563Vm8ybsm

Would the Westview building ownership renew the retail lease space to RIOC or,would Westview ownership recover the space for themselves and to what extent does the retail lease negotiation impact the privatization negotiations?

Assembly Member Seawright continues to work with State Homes and Community Renewal (HCR) and the Westview Taskforce. A meeting is being held in the district office today with Westview Task Force leadership and HCR officials to discuss the status of negotiations.

My understanding is that the latest element in Westview privatization is the upcoming expiration in April 2018 of the Westview ownership retail space to RIOC which is subleased to Hudson Related as part of the Roosevelt Island Main Street Master Retail Lease.

What impact, if any, does the Westview ownership retail lease renewal negotiation with RIOC have on the Westview Building privatization?

What is the current status of Westview privatization?...

Ms.Rosenthal replied on yesterday:

I know you reached out to HCR and are anxious to know the terms of the proposed deal. As soon as we share the terms with the board members, we will share them with you. The good news: we reached a deal in principle and we are moving forward!

If Westview retail lease with RIOC is not renewed, what impact will that have on the Master Retail Lease with Hudson Related which includes the Westview stores?

Also, what impact will that have on Roosevelt Island retail leasing efforts and those current Westview retailers that have lease terms past April 2018?

What is the annual rental revenue from Westview retail tenants and how much revenue does RIOC receive under the Master Lease from Westview retail tenants?...

Mr. Kramer answered:

I think there are 2 substantive issues if the retail sublease is not extended.

First, it's a big hit to RIOC. They earn most of the revenue from the Westview stores (we earn a percentage of the upside over time). I'm not sure why anyone would want RIOC to have less recurring, annual money.

Second, I think there's a logic to the Master Lease having a greater point of view to help the island. Whether it's paying for the new way finding system, or holiday lights, we've tried to help all the retailers.

We've made plenty of non-economic choices, whether it's signing a lease with NYPL or working to keep RIVAA in their space that are good for the island but don't maximize profits.

Our JV pays them ground rent from the retail revenue plus profit participation ... it comes out to approx. 83% of net proceeds. So I don’t understand why the RIOC Board wouldn’t fight to retain that revenue source.

Westview building owner David Hirshorn declined to comment on the Westview privatization status or the retail lease renewal at this time.

The Westview Task Force sent this notice out last evening to residents:

Friends, Neighbors, Westview Tenants,

We are pleased to report that we met with HCR officials and representatives of our elected officials this past Friday.

We were informed that, after prolonged negotiations, the agencies (HCR, RIOC) and Owner are now on the same page regarding all terms related to the WV Affordability Plan. Details are expected to be formalized and released soon.

We will keep everyone informed as we learn more.

Thank you for your continued support.

Westview Taskforce Inc.

Below is an excerpt from a November 3, 2017 email from the Westview Task Force to HCR Commissioner RuthAnne Visnauskas supporting the return of Westview retail space to the Westview Building ownership (click text image for larger sized print).

Today, RIOC announced that the Real Estate Advisory Committee will meet April 3 in Executive Session (closed to the public) to discuss Westview as well as an apparent settlement of Rivercross ground lease arbitration. According to RIOC:

PLEASE TAKE NOTICE that a meeting of the Real Estate Development Advisory Committee of the RIOC Board of Directors will be held on Tuesday, April 3, 2018 at 5:30 P.M. at the RIOC Administrative Office, 591 Main Street, Roosevelt Island, New York.

Agenda:

1. Chair’s Motion for Executive Session to Discuss:

a. Rivercross Arbitration Settlement

b. Southtown 8 & 9 Environmental Assessment and Zoning Overrides

c. Westview Ground Lease Negotiations

2. Any Other Committee Business That May be Brought Before the Committee.

My understanding is that if the Westview retail space lease to RIOC is not renewed, the current retail tenants will have to renegotiate their agreements with Westview owner.

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Welcome to the Roosevelt Islander Online!

Roosevelt Island is a mixed income, racially diverse waterfront community situated in the East River of New York City between Manhattan and Queens and is jurisdictionally part of Manhattan. The Roosevelt Island Tramway, which connects Roosevelt Island to the rest of Manhattan, has become the iconic symbol of Roosevelt Island to its residents.

The Purpose of this Blog is to provide accurate and timely information about Roosevelt Island as well as a forum for residents to express opinions and engage in a dialogue to improve our community.